Karachi: The KSE-100 Index faced significant selling pressure, resulting in a sharp decline of 3,078 points, closing at 168,865. This drop was accompanied by a substantial increase in market participation, with trading volumes rising by approximately 65% compared to the previous session.

According to AKD Securities Limited, the index breached its 200-day Simple Moving Average (SMA) of 172,052 in the previous session, pointing to a deteriorating short-term technical outlook. The MACD indicator remains bearish, having crossed below its signal line 15 periods ago, during which the KSE-100 has declined by 4.52%. The index has fluctuated between a high of 178,942 and a low of 168,472 during this period.

The Relative Strength Index (RSI) stands at 26.06, indicating oversold conditions and suggesting the potential for a short-term technical rebound. However, sustained weakness below the 200-SMA remains a concern. Immediate support is identified at 168,600, with further declines possible to 167,500 and 166,300 if breached. Resistance levels are projected at 170,100, 171,000, and 171,800. Market participants are advised to trade cautiously and consider accumulating positions on dips, with risk management focused below the support zone.